Microsoft Reclaimed Its Crown As The World's Most Valuable Company With An 8% Surge In June Amidst Nvidia's Turbulent 14% Decline

• Microsoft has reclaimed its position as the world's most valuable public company, surpassing Nvidia.
• The battle for market dominance is intensifying among tech giants like Microsoft, Nvidia, and Apple.
• Despite fluctuations in the tech market, Microsoft’s stock has risen nearly 8% in June alone and 19% year-to-date.

Microsoft Corp MSFT has once again become the world’s most valuable public company, overtaking NVIDIA Corp NVDA. This happened after Nvidia’s shares fell by 3.5% last Thursday, bringing its market valuation down to $3.2 trillion.

Meanwhile, Microsoft maintained a market value of $3.3 trillion despite minor fluctuations in its stock price. Nvidia's brief stint at the top was driven by its significant investments in AI technologies, which led to a 1,000% increase in its stock price since early 2022.

However, the long-term sustainability of Nvidia’s market dominance is now in question. Analysts are concerned about rising competition and the challenges of maintaining such rapid growth.

The competition for market supremacy now involves Microsoft, Nvidia, and Apple, each striving to be the first to reach a $4 trillion market valuation.

Amidst these developments, Microsoft's stock performance has been notably strong. The company's shares hit a new record high on Monday, surpassing the previous peak by two dollars to set a new benchmark at $452.

This stability contrasts sharply with Nvidia’s recent volatility, as its value declined by 14% from its peak. Microsoft's resilience and upward trend suggest strong potential for continued growth, especially with its broad portfolio and solid market position.

In June alone, Microsoft’s stock value increased by nearly 8%, with a 19% growth year-to-date. Despite possible market corrections, Microsoft appears well-supported.

Key support levels are around $430, a high from March 21, and the important $400 psychological support level. With a pattern of consistently achieving higher highs and higher lows, Microsoft's stock is well-positioned to potentially reach the $500 milestone in the near future.

After the closing bell on Monday, June 24, the stock closed at $447.67, trading down by 0.47%.

This article is from an unpaid external contributor. It does not represent Benzinga's reporting and has not been edited for content or accuracy.